Financial Performance Report – November 2023 · Financial Performance Report

GENERAL COMMITTEE MEETING                                                       11 DECEMBER 2023


REPORT
Operating Revenue (YTD Benchmark 41.7%)
Council has received 49.3% ($65.3 million) of its operating revenue budget ($132.4 million).
Commentary on each revenue category is provided below.

 Category            Summary                   Comments
 Rates and Levies    $44.5 million (49.9%)        •   Waste utility charges $64.6k above YTD
                     of the annual budget of          budget (50.2% or $7.9 million of $15.7 million
                     $89.3 million has been           annual budget earned)
                     earned                       •   General rate (net of discounts) $136.3k below
                                                      YTD budget (49.7% or $33.6 million of $67.7
                                                      million annual budget earned)
 Fees and Charges    $5.0 million (44.2%) of      •   Civil Operations $109.9k above budget
                     the annual budget of             (3695.0% or $109.9 of $3.0k annual budget
                     $11.4 million has been           earned) Relates to recoupment of works on
                     earned                           behalf of Energex
                                                  •   Property and Facilities $50.4k above budget
                                                      (60.4% or $432.4 of $716.1k annual budget
                                                      earned)
                                                  •   Development Assessment $78.0k below
                                                      budget (44.2% or $1.7 million of $3.8 million
                                                      annual budget earned)
                                                  •   Community Facilities $71.3k below budget
                                                      (24.1% or $97.9k of $406.3k annual budget
                                                      earned)
                                                  •   Building & Plumbing $69.5k below budget
                                                      (36.8% or $914.8k of $2.5 million annual
                                                      budget earned)
                                                  •   Local Laws $53.7k below budget (45.08% or
                                                      $958.7k of $2.1 million annual budget earned)
 Sale of Goods and   $6.5 million (46.8%) of      •   Holiday Park revenue $451.0k above budget
 Services            the annual budget of             (51.8% or $1.9 million of $3.7 million annual
                     $13.9 million has been           budget earned). Any revenue upside will be
                     earned                           generally offset by a corresponding increase in
                                                      associated operating costs
                                                  •   Community Facility fees $218.7k above
                                                      budget (49.7% or $1.5 million of $3.1 million
                                                      annual budget earned)
                                                  •   Waste Management fees $126.2k above
                                                      budget (43.0% or $2.9 million of $6.8 million
                                                      annual budget earned)

 Interest Received   $2.9 million (105.7%)        •   Interest revenues are tracking above budget
                     of the $2.8 million              with investment in higher yielding term
                     annual budget has                deposits maximising the return on surplus
                     been earned                      cash holdings.
 Other Revenue       $1.3 million (45.4%) of      •   Other revenue is in line         with   budget
                     the $2.9 million annual          expectations at this stage
                     budget has been
                     earned
 Operating Grants,   $2.8 million (46.1%) of      •   Operating Grants and subsidies is in line with
 Subsidies           the $6.2 million annual          budget expectations at this stage
                     budget has been              •   100% ($2.0 million) of the financial assistance
                     received                         grant was again prepaid in June 2023 and may
                                                      impact on Council’s 2023/24 final operating